Hanwha Solutions (009830) Q2 2026 earnings summary

Executive summary

• Achieved strong sequential growth in sales and operating profit in 2Q26, driven by improvements across Renewable Energy, Chemicals, and Advanced Materials segments.

• Net profit turned positive year-over-year and quarter-over-quarter, reflecting operational improvements and one-off gains.

Financial highlights

• Sales rose 18% quarter-over-quarter to KRW 45,826 billion and 47% year-over-year.

• Operating profit increased 231% quarter-over-quarter to KRW 3,065 billion, with margin up to 6.7%.

• EBITDA reached KRW 5,241 billion, up 70% quarter-over-quarter.

• Net profit was KRW 2,929 billion, reversing losses from prior periods.

• Segment sales: Renewable Energy KRW 24,823 billion, Chemicals KRW 14,650 billion, Advanced Materials KRW 3,003 billion, Others KRW 3,350 billion.

Outlook and guidance

• U.S. residential solar installations expected to decline YoY but recover gradually; commercial and utility segments maintain solid demand.

• Chemicals segment faces increased price volatility and gradual normalization in PVC; caustic soda and TDI prices expected to decline as supply stabilizes.

• Renewable Energy operating profit expected to remain stable, supported by U.S. plant output and higher contract volumes.

• Advanced Materials revenue and profit projected to rise with new automotive launches and strong solar materials sales.